Your grandmother is gifting you $125 a month for four years while you attend college to earn your bachelor's degree. At a 6.5 percent discount rate, what are these payments worth to you on the day you enter college?

Set the correct values for each aspect of your time value of money calculation. Enter all values as positive numbers, regardless of the sign used in your calculator.

Note: one of these items is the solution to this problem (you will have to compute it using the other values in your calculator)

N = (Hint: you can input the calculation, rather than the final answer. Example: 1*12)

I/Y = percent (Hint: you can list the fraction here. Example: 8/12. Make sure to use the full, non-rounded value in your calculation)

PV =

PMT =

FV =